3 Balance Transfer Mistakes to Avoid
Are you considering a Balance Transfer to a lower Rate Credit Card? If so, there are some mistakes you should avoid making.
1. Don’t Ignore what the Rate rises to after the low Rate expires.
There are a lot of low Rate offers out there. Right now, many low Rate offers last from 6 to 12 months. What will the Rate go to after the low offer ends? That’s the question that you should find out before applying for the new Credit Card.
2. Not knowing what will cause the Low Rate to default.
Having a Low Rate Credit Card can end quickly if; you miss a payment, go over your Credit Limit, or are subject to a “Change in Terms”. Although you can’t control a Change in Terms, you can make sure that you pay your Credit Card bill on time.
Also never transfer more money to your new Credit Card than your Credit Limit allows. So, what percentage should you use? Debt Warriors give you that secret (and many more) in the Credit Card Medic Video Course.
3. Don’t close the old Credit Card.
Closing a Credit Card is like burning the bridge to financial freedom. It is a fact that closing a Credit Card hurts your Credit Score. Don’t get so outraged that you make the mistake of closing the old Credit Card after the Balance Transfer. You may need to use that extra Credit Availability on the old Card.
For example; let’s say you signed up for a 0% card and the rate expired 6 months later. The rate is now 16.24. You could try to transfer that balance back into the old Credit Card, but you’ve closed it you’ll be stuck and at the mercy of the new Credit Card Terms.
Again, closing the old Credit Card is a mistake.
Learn in more detail how you can avoid these top 3 Credit Card Balance Transfer Mistakes, and many more by ordering the Credit Card Medic video Course. Discover how to successfully transfer your Credit Card Balance to the best Rate with confidence 
Click here to learn more (or order) Credit Card Medic.
